AGB440 Resource Economics (8)

Abstract

As the environmental problems we face are serious, appropriate decisions should be made at the local,
national and global level to deal with those problems. In order to make better decisions, in particular,
when dealing with the environmental problems associated with the agricultural and natural resources
sectors, we need to have a better understanding of the principles and practices for the management of
these sectors. This subject therefore introduces the standard microeconomic analysis, combined
with the ecological and biophysical aspects of the agricultural and natural resources sectors, to provide
the management options that are optimal and/or efficient.

+ Subject Availability Modes and Location

Session 1
Internal	Orange Campus
Distance	Orange Campus

Continuing students should consult the SAL for current offering details: AGB440
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject information

Duration	Grading System	School:
One session	HD/FL	School of Agricultural and Wine Sciences

Learning Outcomes

Upon successful completion of this subject, students should:

be able to describe and analyse rural resource use issues in terms of their economic ramifications;
be able to analyse elements of environmental and resource economics so that accurate intrepretation of environmental and resource use issues in an economic context can be discussed;
be able to develop appropriate economic tools and techniques for pollution control, optimal use of natural resources and salinity management in an Australian and other contexts; and
be able to demonstrate and critically evaluate environmental aspects of national and international development

Syllabus

The subject will cover the following topics:

- revision of micro-economics and welfare theory in relation to resource allocation problems such as market failure, externality, public good, property rights and policies.
- Theories of economics as applied to pollution control, optimal depletion of natural resources (minerals and fishery) and forest harvesting (rotation) systems.
- Property right institutions and policy instruments with respect for the efficient use of water and land resources.
- Characteristics of different regulatory and market or incentive based policy instruments available for the management of salinity in the Australian environment.
- Techniques that can be employed to assess non-market benefits (and costs) related to salinity and other resource management problems.
- Issues related to agricultural development and resource management in developing countries.
- Applying the skills learned in a variety of environmental and resource use problems as case studies.

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